Stephens initiated coverage on shares of Intrepid Potash (NYSE:IPI) in a report released on Monday morning. The firm issued an equal weight rating and a $4.00 target price on the basic materials company’s stock.
IPI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Intrepid Potash from a sell rating to a buy rating and set a $3.75 price objective on the stock in a research note on Wednesday, August 9th. UBS downgraded shares of Intrepid Potash from a neutral rating to a sell rating and raised their target price for the company from $2.00 to $2.50 in a research note on Monday, August 7th. BMO Capital Markets raised their target price on shares of Intrepid Potash from $3.00 to $4.00 and gave the company a market perform rating in a research note on Tuesday, October 31st. Finally, Cowen restated a sell rating and issued a $3.50 target price on shares of Intrepid Potash in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Intrepid Potash has a consensus rating of Hold and a consensus price target of $3.55.
Intrepid Potash (NYSE IPI) traded down $0.14 during midday trading on Monday, hitting $3.60. 620,600 shares of the stock were exchanged, compared to its average volume of 1,592,706. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 4.71. Intrepid Potash has a 1 year low of $1.24 and a 1 year high of $4.63.
Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. Intrepid Potash had a negative net margin of 22.88% and a negative return on equity of 8.09%. The firm had revenue of $32.06 million for the quarter, compared to the consensus estimate of $33.15 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s quarterly revenue was down 26.5% on a year-over-year basis. equities analysts predict that Intrepid Potash will post -0.18 earnings per share for the current year.
In other Intrepid Potash news, EVP James N. Whyte sold 86,796 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $3.84, for a total value of $333,296.64. Following the completion of the sale, the executive vice president now directly owns 360,903 shares in the company, valued at $1,385,867.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 27.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IPI. Parametric Portfolio Associates LLC boosted its stake in Intrepid Potash by 30.6% in the first quarter. Parametric Portfolio Associates LLC now owns 126,394 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 29,646 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intrepid Potash by 74.0% in the first quarter. Geode Capital Management LLC now owns 617,705 shares of the basic materials company’s stock worth $1,062,000 after buying an additional 262,790 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Intrepid Potash by 46.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,702 shares of the basic materials company’s stock worth $2,364,000 after buying an additional 437,784 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Intrepid Potash in the second quarter worth $361,000. Finally, Rhumbline Advisers purchased a new position in shares of Intrepid Potash in the second quarter worth $241,000. Institutional investors own 47.99% of the company’s stock.
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Intrepid Potash Company Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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